Sleep Number Co. (NASDAQ:SNBR) Major Shareholder Purchases $181,800.00 in Stock

Sleep Number Co. (NASDAQ:SNBR) major shareholder Stadium Capital Management Llc acquired 15,000 shares of the business’s stock in a transaction on Monday, November 18th. The shares were purchased at an average price of $12.12 per share, for a total transaction of $181,800.00. Following the transaction, the insider now directly owns 2,215,000 shares of the company’s stock, valued at approximately $26,845,800. The trade was a 0.68 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Stadium Capital Management Llc also recently made the following trade(s):

• On Friday, November 15th, Stadium Capital Management Llc acquired 11,540 shares of Sleep Number stock. The shares were acquired at an average price of $12.71 per share, with a total value of $146,673.40.
• On Wednesday, November 13th, Stadium Capital Management Llc bought 22,000 shares of Sleep Number stock. The shares were acquired at an average price of $13.86 per share, with a total value of $304,920.00.
• On Monday, November 11th, Stadium Capital Management Llc acquired 25,325 shares of Sleep Number stock. The shares were bought at an average price of $14.90 per share, with a total value of $377,342.50.
• On Wednesday, November 6th, Stadium Capital Management Llc purchased 400 shares of Sleep Number stock. The shares were bought at an average cost of $14.21 per share, with a total value of $5,684.00.
• On Monday, November 4th, Stadium Capital Management Llc acquired 36,097 shares of Sleep Number stock. The shares were acquired at an average price of $13.09 per share, for a total transaction of $472,509.73.
• On Thursday, October 31st, Stadium Capital Management Llc bought 59,011 shares of Sleep Number stock. The shares were acquired at an average cost of $13.83 per share, for a total transaction of $816,122.13.

Sleep Number Stock Down 1.3 %

Shares of Sleep Number stock traded down $0.16 on Monday, reaching $12.18. The company’s stock had a trading volume of 450,515 shares, compared to its average volume of 510,981. Sleep Number Co. has a 52-week low of $8.13 and a 52-week high of $20.75. The company has a market capitalization of $272.48 million, a P/E ratio of -7.16 and a beta of 2.08. The stock has a 50-day moving average price of $15.55 and a 200-day moving average price of $13.65.

Wall Street Analysts Forecast Growth

SNBR has been the subject of a number of research analyst reports. StockNews.com cut shares of Sleep Number from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Piper Sandler lowered their price target on shares of Sleep Number from $16.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st.

Hedge Funds Weigh In On Sleep Number

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets lifted its stake in Sleep Number by 39.4% in the 1st quarter. BNP Paribas Financial Markets now owns 48,439 shares of the company’s stock valued at $776,000 after buying an additional 13,683 shares in the last quarter. State Board of Administration of Florida Retirement System acquired a new position in shares of Sleep Number during the first quarter valued at approximately $149,000. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Sleep Number by 37.1% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 32,433 shares of the company’s stock valued at $490,000 after acquiring an additional 8,779 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in shares of Sleep Number in the first quarter worth approximately $260,000. Finally, Price T Rowe Associates Inc. MD raised its stake in Sleep Number by 5.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,122 shares of the company’s stock valued at $323,000 after purchasing an additional 1,052 shares during the last quarter. 85.67% of the stock is owned by hedge funds and other institutional investors.

Sleep Number Company Profile

Sleep Number Corporation, together with its subsidiaries, offers sleep solutions and services in the United States. The company designs, manufactures, markets, retails, and services beds, pillows, sheets, and other bedding products under the Sleep Number name. It also provides smart adjustable bases under the FlextFit brand, and smart beds under the Climate 360 name.